Mr. Todd Shapiro reports

RED LIGHT HOLLAND ANNOUNCES DISTRIBUTION AGREEMENT WITH NEW ZEALAND BASED NUBU PHARMACEUTICALS TO EXPLORE LEGAL IMPORT AND DISTRIBUTION OF PSILOCYBIN MICRODOSING CAPSULES TO AUSTRALASIA

Red Light Holland Corp. has signed a distribution agreement with MW Pharma Ltd., trading as Nubu Pharmaceuticals, a leading medical cannabis company based in New Zealand with distribution ties to Australia, to explore the possibility of legal import and distribution of Red Light Holland's psilocybin microdosing capsules to Australasia.

Nubu has completed the rigorous application process with New Zealand's Ministry of Health to secure a licence to deal in controlled drugs, a licence to wholesale medicines and now a medicinal cannabis supply licence from the Medicinal Cannabis Agency. Nubu Pharmaceuticals currently has distribution deals with six companies, ECS Botanics, Sciva International sro, InterCure Ltd. (doing business as Canndoc), MGC Pharmaceuticals Ltd. and Australian Natural Therapeutics Group Pty. Ltd. (ANTG), to supply medicinal cannabis products, as well as Canopy Growth Corp.'s Storz & Bickel GmbH for medical cannabis vaporizers.

The psilocybin microdosing capsules are being developed by Red Light Holland's laboratory partner, CCrest Laboratories Inc., a Montreal-based cGMP (current good manufacturing practice) pharmaceutical laboratory that holds a controlled drugs and substances dealer's licence from Health Canada. The capsules will be made out of natural psychoactive material (psilocybin plus psilocin) and will be packaged in child-proof safety bottles. The capsules will undergo quality control testing, including those for dosage, certificate of analysis and stability.

"We are excited to partner with Nubu, a very established medicinal distribution company with relationships with regulatory bodies and doctors, to explore the possibility of legal import and distribution of our soon-to-be-produced microdosing capsules to Australia and New Zealand," said Todd Shapiro, Red Light Holland chief executive officer and director. "We are committed to developing a high-quality psilocybin product for microdosing that can potentially be accessible in emerging legal markets worldwide with the hope of helping those in need, and this partnership is a step forward in achieving that goal."

"We are hoping this partnership with Red Light Holland will be the start of something big; our end goal is the same as it was with medicinal cannabis: making new therapeutics available for those in need. With all the correct licensing in place in Australia and New Zealand, we are excited about next steps," said Mark Dye, co-founder and CEO of Nubu.

Australia recently, on Feb. 3, 2023, announced a downlisting of psilocybin in its list of controlled substances to allow psychiatrists to prescribe psilocybin to patients suffering from treatment-resistant depression. The change in scheduling was announced to take effect on July 1, 2023.

Red Light Holland will provide updates as it continues to work with CCrest Laboratories and Nubu Pharmaceuticals to explore the possibility of legal import and distribution of the microdosing capsules.

About Red Light Holland Corp.

Red Light Holland is an Ontario-based corporation engaged in the production, growth and sale of functional mushrooms and mushroom home grow kits in North America and Europe, and a premium brand of psilocybin truffles to the legal, recreational market within the Netherlands, in compliance with all applicable laws.

We seek Safe Harbor.